Reuters: Austrian central bank plans to repatriate gold from Britain, newspaper says

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From Reuters
Friday, May 22, 2015

VIENNA, Austria -- Austria's central bank plans to repatriate some of its gold reserves from Britain after facing criticism for storing too much of the precious metal abroad, the Krone newspaper reported today without naming any sources for the information.

Officials at the Austrian National Bank were not immediately available for comment.

In February the bank rejected criticism of its gold storage policy by the country's Court of Audit and insisted that keeping the bulk of reserves in London was in the country's best interests, but also said a policy review was under way.

The central bank, which administers Austria's 280 tonnes of gold reserves, had argued it makes sense to store gold where it can be traded if need be, which made London a logical place given its role as an international market for the metal. ...

... For the remainder of the report:

http://www.reuters.com/article/2015/05/22/austria-gold-idUSL5N0YD3R32015...



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